Cryptocurrencies, A Step Towards Better Future For Ukraine

Oct 13, 2018 at 14:00 Update Date :Oct 13, 2018 at 14:00 UTC

Ukraine is bearing the pressure of massive corruption but still, the country is finding ways to tackle through the influence of population for cryptocurrencies.

In 1991, after the Soviet Union collapsed, most of the Ukrainians are in shock because the wealth and infrastructure of the area came to the hands of few.

Nowadays, the small group of people called oligarchs, are controlling the wealth physical torture and investment schemes in which most of the needed dollars kept out of the hands of citizens. In 2014, the government of ex-president Viktor Yanukovych, overturned by the political upheaval of citizens although the fundamental inequalities remained as they were.

After the revolution, the ongoing conflict with the separatists furnished to the collapse in the economy of the Eastern European nation. But still, that looms over the heads of people who are making their way to live.

But the happy news is, there are small growing people in Ukraine that believe that cryptocurrency is the country’s future in monetary.


As per the reports of Bloomberg, the average salary of the people of Ukraine is around $300. But this still has not stopped them from trading in the cryptocurrencies. Trading volume per day is close to $2 million. Astonishing, right?

The population accepting cryptocurrency includes a majority of business and the people who are selling their stock in the farmer market.

As the population is heading towards the new digital world, there are also people, mostly advocates, who believe that virtual currency can cause confusion of technologies because they can take away the power from the people who are ruling the country with the power.

The administration of the country’s president has also talked to a blockchain technology company, BitFury Group Ltd., to store data on the system based on Blockchain.

Despite questions on the cryptocurrency and blockchain effectiveness, a majority of the people are deviating towards the new technology that is creating a hope for the better future.

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